Wescoal Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 2005/006913/06)
Share Code: WSL ISIN: ZAE000069639
(?Wescoal? or the ?Company?)
RESULTS OF GENERAL MEETING RELATING TO THE PROPOSED BLACK ECONOMIC EMPOWERMENT
Wescoal ordinary shareholders are advised that the voting results at the general meeting of Wescoal
regarding the approval by Wescoal ordinary shareholders for the implementation of the Transaction,
held at the registered office of the Company today (23 November 2016), were as follows:
Resolution Number of Number of For2 Against2 Abstained3
shares voted shares voted
93 692 172 39.44376% 99.96350% 0.03650% 0.06031%
Resolution 1: Authority
to issue 30% or more of
the Company?s Shares to
the BEE SPV
93 690 602 39.44310% 99.96777% 0.03223% 0.06136%
Resolution 2: Authority
to provide financial
Ordinary Resolution 81 188 172 36.07889%4 99.95783% 0.04217% 8.43226%
1: Specific authority to
issue Shares for cash to
the BEE SPV
Ordinary Resolution 93 690 602 39.44310% 99.98292% 0.01708% 0.06136%
2: Waiver of the
Mandatory Offer by the
BEE SPV, Robinson
Ramaite, Eric Mzimela
and Simeka Capital
1 Based on 237 533 578 Wescoal ordinary shares in issue as at the date of the general meeting.
2 In relation to the total number of Wescoal ordinary shares voted at the general meeting.
3 Based on the total number of Wescoal ordinary shares (149 355 759) that can be exercised at
the general meeting.
4 Based on 237 533 578 Wescoal ordinary shares in issue as at the date of the general meeting,
less treasury shares of 12 504 000.
Based on the above voting results, all resolutions were passed by the requisite majority of Wescoal
shareholders present in person or represented by proxy at the general meeting.
By order of the Board of Directors of Wescoal
23 November 2016
Investment Bank, Corporate Advisor and Sponsor
Nedbank Corporate and Investment Banking
Date: 23/11/2016 01:30:00 Supplied by www.sharenet.co.za
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